Talks of a Twitter IPO have resurfaced after reports indicate the microblogging service provider held informal discussions with Wall Street firms and banks.

According to a NY Post report earlier this week, bankers met with the company's management team in preliminary talks ahead of an official selection process for underwriters to lead the Initial Public Offering (IPO). Currently valued at US$10 billion, Twitter's IPO has been hotly anticipated and the early discussions will provide banks some indication of what the company is looking to achieve from the offering, the report noted.

However, chief executives including CEO Dick Costolo and CFO Mike Gupta reportedly expressed some concerns. Citing various sources, the report said the senior executives were keen for a "low profile" IPO to prevent a repeat of Facebook's botched IPO last year.

The microblogging site reportedly is considering a more conservative offering than Facebook's mega deal, and has recognized it still needs to monetize its business. "But Twitter is banking that it's positioned well going forward," a bank source told NY Post.

In private markets, Twitter shares are worth about US$20, the report noted, citing filings from public funds that own stakes in the company.

Its mobile advertising revenue--driven through smartphones and tablets--clocked US$134.9 million last year. It is expected to generate some US$582.8 million in overall ad revenue in 2013 and hit US$1 billion next year, according to projections from eMarketer.

Thank You

By registering you become a member of the CBS Interactive family of sites and you have read and agree to the Terms of Use, Privacy Policy and Video Services Policy. You agree to receive updates, alerts and promotions from CBS and that CBS may share information about you with our marketing partners so that they may contact you by email or otherwise about their products or services.
You will also receive a complimentary subscription to the ZDNet's Tech Update Today and ZDNet Announcement newsletters. You may unsubscribe from these newsletters at any time.